ANCHORS DROP IN IOWA: Sears, Roebuck and Co. and Dillard Department Stores will anchor a 900,000-square-foot mall in Coralville, Iowa, opening in fall 1997.
According to a spokeswoman for the developer, General Growth Properties, the mall will include three more anchor tenants, but the stores have not been named.
Sears, which has 11 stores in Iowa, will occupy a one-story, 109,000-square-foot unit, while the Dillard’s store will be about 100,000 square feet, the spokeswoman said. The Coralville Mall is being built at the intersection of I-80, U.S. Highway 6 and Iowa Highway 965.
AMERICAN EAGLE’S NEW MAN: American Eagle Outfitters has named George Kolber as vice chairman and acting chief operating officer.
Kolber has more than 23 years of retail experience and has held various positions with Vornado (Two Guys Department Stores), Strauss Stores, Schottenstein Stores Corp. and Value City Department Stores. He also was chairman of Penn Jersey Auto Stores and a director of Weiboldts Department Stores.
American Eagle recently announced that Robert Lynn, chief operating officer, and Adam Monks, chief financial officer, had left the company.
However, American Eagle said their departure was not the result of any disagreement regarding the company’s financial integrity or strategic direction.
American Eagle Outfitters, based in Warrendale, Pa., is a leading specialty retailer of men’s and women’s casual apparel, footwear and accessories. The company has 278 stores in 39 states.
INSIGHT ON MEXICO: Randolph J. Harris, vice president of Kormos, Harris & Associates Inc., will provide insights on the Mexican apparel market at Tuesday’s Retail Marketing Society meeting, set for noon at The 60 East Club, 60 E. 42nd St., in Manhattan.
Harris’s talk is titled, “Shedding Light on an Enigma: The Mexican Retail Clothing Market.” Kormos, Harris & Associates launched an apparel tracking service covering the Mexican market in July. It tracks the purchases of 4,000 Mexican households through in-home interviews.
For information, call the Retail Marketing Society at (201) 692-8087.
NOTE EXCHANGE: Mothers Work Inc. said the exchange offer for all of its outstanding 12 5/8 percent senior notes due 2005 has expired.
As a result of the exchange, $92,000,000 in principal amount of notes were exchanged for a like principal amount of new notes, with no old notes outstanding. The new notes are identical in all material respects to the form and terms of the old notes, except that the new notes have been registered under the Securities Act of 1933 and do not bear legends restricting the transfer thereof.
Based in Philadelphia, Mothers Work is a 441-unit specialty retailer of maternity clothing. The Company currently operates 205 Motherhood Maternity stores, 96 Mothers Work stores, 62 Mimi Maternity stores, 41 Maternity Works outlet stores and 37 A Pea in the Pod stores.
THIRD-QUARTER TUMBLE: Chateau Stores of Canada Ltd. said third-quarter earnings fell 38 percent to $948,890 ($1.3 million Canadian,) or 21.2 cents a share, from C$2.1 million, or 47 cents Canadian.
Sales for the three months ended Oct. 28 dropped 10.6 percent to $28.8 million (C$39.5 million) from C$44.2 million. Same-store sales were down 11.6 percent.
Based in Montreal, Chateau Stores operates 155 women’s apparel stores mainly in Canada, with four units in the United States. The company also operates three outlet stores and sells its branded clothing in Canadian Sears stores.
For the nine months the company lost $202,919 (C$278,000) against earnings of C$4.3 million, or 95 cents Canadian a share. Sales fell 13.1 percent to $74.2 million (C$101.6 million) from C$116.9 million. Same-store sales were down 12.2 percent.